Project Launch Overview
On the morning of October 18, the launch ceremony for the ultra-thin electronic glass project at the Qingdao Optoelectronic Industrial Park took place in the West Coast New Area of Qingdao. Qingdao Fusion Intelligent Technology Co., Ltd. successfully rolled out its first 30-inch commercial display product during the event. At the same time, Qingdao Fusion New Materials Technology Co., Ltd. inaugurated its Mini LED backplane production line.
Project Scope and Capacity
This ultra-thin electronic glass project primarily includes the construction of a Mini LED backplane glass production line and a 3D automotive cover glass production line, capable of producing 40 million square meters of Mini LED backplane and 24 million pieces of 3D automotive cover glass annually, representing a crucial upstream material in the new display industry chain.
Investment and Development
The total investment for the ultra-thin electronic glass production and deep processing project exceeds $1.4 billion, covering an area of 393 acres. It is jointly invested and constructed by Qingdao Fusion Intelligent Technology Co., Ltd. and Qingdao Fusion New Materials Technology Co., Ltd. On July 24, 2023, Fusion Holdings announced that the civil engineering for the “Ultra-thin Electronic Glass Production and Deep Processing Project,” co-invested by these two companies, had been completed.
Mini-LED Backplane Project Details
The Mini-LED backplane project involves an investment of approximately $350 million and occupies approximately 240 acres, featuring two MiniLED backplane production lines. Once fully operational, the project is expected to achieve annual sales exceeding $140 million and create 700 new jobs. This Mini LED backplane project has been included in the key projects list for Qingdao City in 2024, marking its second consecutive year of selection. On February 22, 2024, Qingdao Fusion New Materials held a ceremony to mark the assembly of the first kiln for the Mini LED backplane project.
3D Vehicle Cover Project Overview
Additionally, the 3D vehicle cover project has a total investment of about $700 million, with the first phase alone requiring approximately $350 million and covering 100 acres. It plans to establish a production line with an annual capacity of 12 million pieces of 3D vehicle covers, with phase one projected to produce 12 million pieces of truck covers upon completion.
Company Background
Qingdao Fusion Intelligent Technology Co., Ltd. and Qingdao Fusion New Materials Technology Co., Ltd. were both established on October 29, 2021, with a registered capital of $140 million each, and both companies are represented by Guo Wenjun. Qingdao Fusion Industry Development Group Co., Ltd. is the major shareholder of both companies, holding 48.9%. This group is fully owned by Qingdao West Coast New Area Fusion Holdings Group Co., Ltd. Qingdao Fusion Dacheng Industrial Investment Development Partnership (Limited Partnership) holds 21.1% of shares in both companies. The remaining 30% of shares in Qingdao Fusion Intelligent Technology Co., Ltd. and Qingdao Fusion New Materials Technology Co., Ltd. are held by Beijing Hongruibangte Technology Co., Ltd. and Beijing Shengyu Hongxin Technology Co., Ltd., respectively.
Future Prospects
The Qingdao Optoelectronic Display New Materials Industrial Park project is jointly introduced by the International Investment Promotion Center and the Huangdao Street Office, with the Rinkong Group participating in investment cooperation. The goal is to develop a new materials industrial park in the new area that integrates core materials for optoelectronic displays and the research and development of intelligent equipment.
Disclaimer: The views and opinions expressed in this article are those of the original authors and do not necessarily reflect the official policy or position of MiniMicroLED Insights . While we strive to ensure the accuracy and reliability of the information provided, the content on this website may include translations, re-edited versions of second-hand information, or information derived from unverifiable sources. MiniMicroLED Insights makes no representations or warranties, express or implied, regarding the completeness, accuracy, or timeliness of such content. The information in this article is for informational purposes only and should not be construed as professional advice. Any reliance you place on such information is strictly at your own risk. To the fullest extent permitted by law, MiniMicroLED Insights disclaims all liability for any direct, indirect, incidental, consequential, or punitive damages arising out of your use of, or reliance on, the information contained in this article.
Copyright Notice: This article may include translated and re-edited content derived from various online sources, including websites and social media platforms. While we strive to credit the original authors and sources to the best of our ability, we may not always be able to verify the original source of the content. All rights to the original content remain with the original author or source publication. Where applicable, this content is reproduced for educational and informational purposes under the fair use doctrine. If you believe any content on this site infringes upon your intellectual property rights, or if you are the copyright owner and believe we have not credited you correctly, please contact us at minimicroled.business@gmail.com. We will investigate and take corrective action, including removing or properly crediting the content if necessary.
Content sourced and adapted by MiniMicroLED Insights (Doris).
